Issue 16-162: Corporations

August 25, 2016

Canadian corporation profits continued to slide in the second quarter, falling 3.4% (seasonally adjusted). Although financial service industries did not fare well (-12.1%), profits in other industries edged up 0.9%. Strength in wholesale and retail trade played a big role in the increase in the non-financial sector, whereas profits in the energy, manufacturing and transportation sectors declined. The decrease in the financial sector was primarily attributable to a drop in profits for insurance carriers – a direct result of a high volume of disaster claims mainly due to damage caused by the Fort McMurray wildfire in May.

Data Source: Statistics Canada